Tiwa reduces coal concession area
Tuesday, July 18 2017 - 09:51 AM WIB
Coal miner PT Tiwa Abadi, a subsidiary of IDX-listed coal firm PT Bayan Resources Tbk, has reduced its 5,000 ha coal concession area in Tabang, Kutai Kartengara Regency, East Kalimantan Province.
Bayan said in a statement on Tuesday that Tiwa reduced about 4-ha of its coal concession area to resolve overlapping concession problem with another coal miner PT Tanur Jaya.
Tanur Jaya is an affiliate of Tiwa as it is indirectly owned by Bayan through the latter?s ownership of ASX-listed Kangaroo Resources Ltd.
?The two subsidiaries have obtained the clear and clean status from the Director General of Mineral and Coal,? the statement said.
According to company website, Tiwa and Tanur are part of so-called Pakar concessions, which comprise of nine contiguous concession areas that cover a total area of 35,572 ha located in Kutai Kartanegara Regency. The concessions are PT Tiwa Abadi, PT Tanur Jaya, PT Dermaga Energi, PT Orkida Makmur, PT Sumber Api, PT Cahaya Alam, PT Bara Sejati, PT ApiraUtama, and PT Silau Kencana.
Editing by Reiner Simanjuntak